Retainer for Real Estate Sellers

Retainer - Seller

I am the Seller of the property known as

I have retained the Levin Law Group to represent me with respect to this sale. I hereby acknowledge and agree to the following by initialing next to each applicable item:

GENERAL ITEMS

Section1

  1. I authorize the Levin Law Group to initial any handwritten changes to the contract, whether made now or in the future, on my behalf, should same be necessary.

Section2

  1. I agree not to contact the Buyer's attorney directly. I understand that he is not allowed to speak to me.

Section3

  1. I understand that I CANNOT CHANGE MY MIND about selling the property or I can be sued by the buyer and either be forced to sell or to cover the buyer's expenses. I will discuss specific contingencies that allow me to terminate the contract. I understand that changing my mind is never such a contingency.

MONETARY ITEMS

Section4

  1. I will pay the Levin Law Group $

    if the deal closes.

    I understand that the following items are not included in the flat fee: (a) Power of Attorney ($

    ) each, (b) Litigation (i.e. disputes resulting in court action), (c) any and all third party fees (ex: government fees, bank fees, title company fees, coop and condo fees)and (d) any items listed below.

Section5

  1. I promise that my property is not in foreclosure. I understand that a property that is in foreclosure requires more work on your part and I agree to pay you an additional $
    if my property is in foreclosure or will be in foreclosure at closing.

Section6

  1. I understand that the Levin Law Group will order payoffs for any open mortgages that I may have and ordering such payoffs is part of my flat fee. However, should there be a mortgage (against myself or any previous owner) that is actually paid or closed but is showing as open for any reason and such mortgage must be cleared in order to close, I shall pay $
    for each mortgage due to the additional work required by you. I shall be notified of any such open mortgage.

Section7

  1. I understand that if there is any other lien or judgment open against me or against the property and such lien or judgment must be cleared in order to close, I shall be charged $
    for each such lien or judgment due to the additional work required by you. I shall be notified of any such open lien or judgment.

Section8

  1. I understand that if there is a problem with the chain of title and a new deed must be prepared to correct the defect, I will pay you $
    for preparation of the new deed and transfer documents and shall pay any recording fees charged by the county.

Section9

  1. If the deal does not close, I will be responsible for one-half (1/2) of the legal fee: $
    for an average transaction.

MY OBLIGATIONS

Section10

  1. HOUSES ONLY: I understand that I need to provide a final water reading at Closing. I shall order the water reading and have it available for Closing. Alternatively, I can ask Levin Law Group to order the final water reading for a $
    fee. If a final water reading is not available at Closing, I understand that there may be money left in escrow until such reading is obtained after Closing.

Section11

  1. COOPS ONLY: I must bring the ORIGINAL Stock and Proprietary Lease to the Closing. If I currently have a mortgage, the Lender's agent will bring both to the Closing. If I do not have a mortgage, I MUST find the Stock and Proprietary Lease and bring the originals to the Closing. Failure to do so may result in an adjournment of the Closing.

TIMELINES

Section12

  1. I understand that the closing date in the Contract is not a deadline. It is an approximate date. I understand that either party can delay beyond the date in the contract for at least 30 days. I understand that I will not rely on the date in the contract as the exact closing date and will continue to pay all mortgage, maintenance and utility payments regardless of the date set for Closing in the contract. I will also plan my housing situation accordingly.

Signature1

Please type your initials, or please type for your signature.

Brooklyn Office°

2620 E. 18th Street, Suite 2
Brooklyn, NY 11235
(718) 989-9629

Bronx Office*

2010 Williamsbridge Rd.
Bronx, NY 10461
(347) 923-3880

Dutchess Office*

42 Catherine Street
Poughkeepsie, NY 12601
(845) 208-9238

Manhattan (Downtown)*

222 Broadway, 19th Floor
New York, NY 10007
(212) 365-0934

Manhattan (Harlem)*

8 W 126th Street
New York, NY 10027
(212) 365-0934

Nassau Office*

225 Franklin Avenue, Suite 325
Great Neck, NY 11021
(516) 558-0045

Putnam Office*

Use Rockland, Dutchess or
Westchester Office
(845) 208-9238|

Queens Office*

3537 36th Street
Astoria, NY 11106
(718) 554-5652

Rockland Office*

3 E Evergreen Road
New City, NY 10956
(845) 208-9238

Staten Island Office*

307 Sand Lane
Staten Island, NY 10305
(718) 554-5687

Suffolk Office*

445 Broad Hollow Rd., Suite 25
Melville, NY 11747
(631) 306-0057

Westchester Office*

199 Main Street, 4th Floor
White Plains, NY 10601
(914) 274-2045

Essex Office*

16 Orange Street
Bloomfield, NJ 07003
(732) 474-6410

Disclaimer

° Principal Office
* By Appointment Only

Monmouth Office*

50 US Highway 9 North 125
Morganville, NJ 07751
(732) 474-6410